Cumberland Secures Major Singapore Payment Licence on July 13

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According to Cumberland's announcement on X on July 13, Cumberland SG Pte. Ltd. has secured a full Major Payment Institution licence from Singapore's Monetary Authority of Singapore, authorizing digital payment token services and cross-border money transfers under the Payment Services Act. The licence completes a process that began with in-principle approval in March 2025. Cumberland, the crypto trading and liquidity arm of Chicago-based DRW, must maintain a minimum base capital of S$250,000 and comply with anti-money laundering requirements under MAS's framework. The firm now joins other MPI-licensed crypto operators in Singapore including Coinbase, BitGo, Anchorage, Gemini, and OKX.
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